The ex-director of general accounting at WorldCom was sentenced Tuesday to one year and one day in prison for his role in the company's $11 billion fraud. Buford Yates said superiors instructed him to make adjustments to company books that had "no justification" and were designed to meet Wall Street expectations. Yates is one of five former WorldCom executives who pleaded guilty to fraud and helped the government build its case against ex-CEO Bernard Ebbers, sentenced last month to 25 years in prison.
August 10, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The former director of general accounting at WorldCom was sentenced Tuesday in New York to one year and one day in prison for his role in the company’s record $11 billion fraud.
The sentence for Buford “Buddy” Yates, 49, came nearly three years after he pleaded guilty to helping WorldCom overstate its earnings from 2000 to 2002 in a scandal that bankrupted the telecom company.
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